The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Alerian MLP Common 00162Q866 8 600 SH   DFND 1 0 600 0
AbbVie Inc. Common 00287Y109 4,802 73,700 SH   DFND 1 73,700 0 0
ACADIA Pharmaceuticals Inc. Common 004225108 1,889 54,947 SH   DFND 2 54,947 0 0
Allergan plc Common G0177J108 2,209 9,246 SH   DFND 2 9,246 0 0
AllianceBernstein Holdings LP Unit Ltd Common 01881G106 23 1,000 SH   DFND 1 0 1,000 0
AllianceBernstein Holdings LP Unit Ltd Common 01881G106 34 1,500 SH   DFND 1 1,000 0 0
Ambac Financial Group, Inc. Common 023139884 3,214 170,426 SH   DFND 2 170,426 0 0
Anadarko Petroleum Corporation Common 032511107 4,018 64,800 SH   DFND 2 64,800 0 0
Anadarko Petroleum Corporation Common 032511107 440 7,100 SH   DFND 1 0 7,100 0
Anadarko Petroleum Corporation Common 032511107 549 8,860 SH   DFND 1 8,860 0 0
Anchor Bancorp Common 032838104 130 5,000 SH   DFND 1 0 5,000 0
Anchor Bancorp Common 032838104 188 7,250 SH   DFND 1 7,250 0 0
Apple Inc. Common 037833100 3,448 24,000 SH   DFND 2 24,000 0 0
Apple Inc. Common 037833100 75 525 SH   DFND 1 0 525 0
Apple Inc. Common 037833100 75 525 SH   DFND 1 525 0 0
Array BioPharm Inc. Common 04269X105 107 12,000 SH   DFND 2 12,000 0 0
AT&T Inc. Common 00206R102 85 2,050 SH   DFND 1 2,050 0 0
Avadel Pharmaceuticals plc Common 05337M104 964 99,587 SH   DFND 2 99,587 0 0
AxoGen, Inc. Common 05463X106 142 13,549 SH   DFND 2 13,549 0 0
Bancorp 34, Inc. Common 05970V106 127 10,000 SH   DFND 2 10,000 0 0
Bank Nova Scotia Halifax Common 064149107 23 400 SH   DFND 1 0 400 0
Bellicum Pharmaceuticals, Inc. Common 079481107 131 10,584 SH   DFND 2 10,584 0 0
Bristol-Myers Squibb Company Common 110122108 94 1,722 SH   DFND 2 1,722 0 0
Canadian Natural Resources Inc. Common 136385102 451 13,750 SH   DFND 1 0 13,750 0
Canadian Natural Resources Inc. Common 136385102 610 18,600 SH   DFND 1 18,600 0 0
Capitol Federal Financial, Inc. Common 14057J101 9,957 680,600 SH   DFND 2 680,600 0 0
Capitol Federal Financial, Inc. Common 14057J101 59 4,000 SH   DFND 1 0 4,000 0
Capitol Federal Financial, Inc. Common 14057J101 85 5,800 SH   DFND 1 5,800 0 0
Cardiome Pharma Corp. Common 14159U301 230 76,300 SH   DFND 2 76,300 0 0
Catalyst Pharmaceuticals, Inc. Common 14888U101 554 284,350 SH   DFND 2 284,350 0 0
Check Cap Ltd. Common M2361E112 349 162,871 SH   DFND 2 162,871 0 0
Check Cap Ltd. @7.50 Exp. 2/28/20 Common M2361E120 495 66,059 SH   DFND 2 66,059 0 0
Chemours Co. Common 163851108 25 640 SH   DFND 1 0 640 0
Chemours Co. Common 163851108 28 720 SH   DFND 1 720 0 0
China Ceramics Co. Ltd. Common G2113X134 107 47,195 SH   DFND 2 47,195 0 0
Coca Cola Inc. Common 191216100 246 5,800 SH   DFND 1 5,800 0 0
Colony Northstar Inc. Common 19625W104 19 1,466 SH   DFND 1 0 1,466 0
Community Healthcare Trust Incorporated Common 20369C106 1,434 60,000 SH   DFND 2 60,000 0 0
Condor Hospitality Trust, Inc. Common 20676Y403 530 50,000 SH   DFND 2 50,000 0 0
CoreCivic, Inc. Common 21871N101 2,357 75,000 SH   DFND 2 75,000 0 0
Cousins Properties Inc. Common 222795106 111 13,428 SH   DFND 1 0 13,428 0
Delta Air Lines, Inc. Common 247361702 1,517 33,000 SH   DFND 2 33,000 0 0
Dow Chemical Company Common 260543103 51 800 SH   DFND 1 0 800 0
Du Pont E I De Nemours & Co. Common 263534109 257 3,200 SH   DFND 1 0 3,200 0
Du Pont E I De Nemours & Co. Common 263534109 281 3,500 SH   DFND 1 3,500 0 0
Eagle Materials Inc. Common 26969P108 22 228 SH   DFND 1 0 228 0
Eli Lilly & Co. Common 532457108 25 300 SH   DFND 1 0 300 0
Entegra Financial Corp. Common 29363J108 710 30,000 SH   DFND 2 30,000 0 0
Entegra Financial Corp. Common 29363J108 71 3,000 SH   DFND 1 0 3,000 0
Entegra Financial Corp. Common 29363J108 171 7,250 SH   DFND 1 7,250 0 0
FNB Corporation Common 302520101 132 8,905 SH   DFND 1 0 8,905 0
FutureFuel Corporation Common 36116M106 777 54,804 SH   DFND 2 54,804 0 0
General Electric Common 369604103 36 1,200 SH   DFND 1 0 1,200 0
General Electric Common 369604103 104 3,480 SH   DFND 1 3,480 0 0
Gilead Sciences, Inc. Common 375558103 456 6,720 SH   DFND 2 6,720 0 0
GlaxoSmithKline plc Common 37733W105 953 22,600 SH   DFND 2 22,600 0 0
Global Medical REIT, Inc Common 37954A204 699 77,000 SH   DFND 2 77,000 0 0
Hertz Global Holdings, Inc. Common 42806J106 965 55,000 SH   DFND 2 55,000 0 0
Hospitality Properties Trust Common 44106M102 32 1,000 SH   DFND 1 0 1,000 0
International Business Machines Corp Common 459200101 746 4,284 SH   DFND 1 0 4,284 0
Immunomedics, Inc Common 452907108 294 45,500 SH   DFND 2 45,500 0 0
Independence Realty Trust, Inc. Common 45378A106 469 50,000 SH   DFND 2 50,000 0 0
Innovative Industrial Properties, Inc. Common 45781V101 427 25,000 SH   DFND 2 25,000 0 0
Johnson & Johnson Common 478160104 274 2,200 SH   DFND 1 0 2,200 0
Johnson & Johnson Common 478160104 633 5,080 SH   DFND 1 5,080 0 0
JP Morgan Chase & Co. Common 46625H100 773 8,800 SH   DFND 1 0 8,800 0
JP Morgan Chase & Co. Common 46625H100 1,252 14,250 SH   DFND 1 14,250 0 0
Iridium Communications, Inc. Common 46269C102 3,262 338,000 SH   DFND 2 338,000 0 0
Ligand Pharmaceuticals Incorporated Common 53220K504 105,444 996,257 SH   DFND 2 996,257 0 0
Ligand Pharmaceuticals Incorporated Common 53220K504 195 1,843 SH   DFND 1 0 1,843 0
Macquarie Infrastructure Common 55608B105 266 3,300 SH   DFND 1 3,300 0 0
Medtronics Inc. Common G5960L103 85 1,050 SH   DFND 1 0 1,050 0
Merck & Co. Inc. Common 58933Y105 32 500 SH   DFND 1 0 500 0
Merck & Co. Inc. Common 58933Y105 51 800 SH   DFND 1 800 0 0
Microsoft Corporation Common 594918104 4,436 67,350 SH   DFND 2 67,350 0 0
Microsoft Corporation Common 594918104 66 1,000 SH   DFND 1 0 1,000 0
Microsoft Corporation Common 594918104 26 400 SH   DFND 1 400 0 0
Mondelez Int'l Inc. Common 609207105 129 3,000 SH   DFND 1 0 3,000 0
Mondelez Int'l Inc. Common 609207105 125 2,900 SH   DFND 1 2,900 0 0
Novelion Therapeutics, Inc. Common 67001K202 1,173 109,184 SH   DFND 2 109,184 0 0
Och-Ziff Capital Management Group Common 67551U105 5 2,000 SH   DFND 1 2,000 0 0
Oritani Financial Corp Common 68633D103 34 2,000 SH   DFND 1 0 2,000 0
Oritani Financial Corp Common 68633D103 99 5,800 SH   DFND 1 5,800 0 0
Parkway Inc. Common 70156Q107 33 1,678 SH   DFND 1 0 1,678 0
Peoples United Financial Common 712704105 27 1,500 SH   DFND 1 0 1,500 0
Pfizer Inc. Common 717081103 30,402 888,676 SH   DFND 2 888,676 0 0
Pfizer Inc. Common 717081103 889 26,000 SH   DFND 1 0 26,000 0
Pfizer Inc. Common 717081103 2,018 59,000 SH   DFND 1 59,000 0 0
Physicians Realty Trust Common 71943U104 1,109 55,800 SH   DFND 2 55,800 0 0
RMR Group Inc. Common 74967R106 1 16 SH   DFND 1 0 16 0
Rand Logistics, Inc. Common 752182105 425 664,435 SH   DFND 2 664,435 0 0
Ryman Hospitality Ppty Inc. Common 78377T107 25 400 SH   DFND 1 400 0 0
Seaspan Corporation Common Y75638109 693 100,000 SH   DFND 2 100,000 0 0
Standard AVB Financial Corp. Common 85303B100 530 20,000 SH   DFND 2 20,000 0 0
Starwood Ppty Inc. Common 85571B105 9 400 SH   DFND 1 400 0 0
Stemline Therapeutics, Inc. Common 85858C107 86 10,000 SH   DFND 2 10,000 0 0
Sunshine Bancorp, Inc. Common 86777J108 419 20,000 SH   DFND 2 20,000 0 0
Sunshine Bancorp, Inc. Common 86777J108 42 2,000 SH   DFND 1 0 2,000 0
Sunshine Bancorp, Inc. Common 86777J108 121 5,800 SH   DFND 1 5,800 0 0
Synergy Pharmaceuticals, Inc. Common 871639308 738 158,400 SH   DFND 2 158,400 0 0
The Kraft Heinz Company Common 500754106 636 7,000 SH   DFND 2 7,000 0 0
The Kraft Heinz Company Common 500754106 169 1,865 SH   DFND 1 0 1,865 0
The Kraft Heinz Company Common 500754106 276 3,035 SH   DFND 1 3,035 0 0
TheStreet Inc. Common 88368Q103 76 100,600 SH   DFND 2 100,600 0 0
Total SA Sponsored ADR Common 89151E109 146 2,900 SH   DFND 1 0 2,900 0
Total SA Sponsored ADR Common 89151E109 119 2,360 SH   DFND 1 2,360 0 0
Verizon Communications Inc. Common 92343V104 13 263 SH   DFND 1 0 263 0
Verizon Communications Inc. Common 92343V104 64 1,320 SH   DFND 1 1,320 0 0
Wheeler Real Estate Investment Trust, Inc. Common 963025606 780 30,000 SH   DFND 2 30,000 0 0